I’m a big supporter of the Cosmos vision and an investor in the ecosystem’s $ATOM token. A new Cosmos whitepaper was recently published [source]. I’m sharing a few excerpts and diagrams below that I find interesting / consequential.
Here are a few tweet threads explaining the upcoming changes
https://twitter.com/delphiintern/status/1574489770776051723/photo/3
https://twitter.com/route2fi/status/1575831540155629568?s=46&t=UfvY0glUmZzrIdz1PMrsDw
And some food for thought from Jae Kwon, one of the Cosmos founders who is no longer actively working on the original Cosmos:
https://twitter.com/jaekwon/status/1576869177796620290
All the excerpts below are copied verbatim.
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The Cosmos SDK has a history of pioneering governance innovations, such as an advanced delegation system; governance-activated node upgrades; and a gen- eralized message passing system that allows any account, whether individual, group, smart contract, or chain, to execute arbitrary transactions, locally or over IBC.
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The Cosmos Hub gave rise to the internet of blockchains. Interchain Security and Liquid Staking are the final building blocks required for a secure interchain economy, which in turn, enable the creation of the Hub’s application-specific functionality, the Interchain Allocator and Interchain Scheduler.
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The transition phase starts the moment that Cosmos shifts to the new monetary policy and ends 36 months later, at which point the steady state phase begins and lasts indefinitely. During the transition phase, issuance temporarily increases for the first nine months as it bootstraps initial funding for a new Cosmos Hub Treasury. Issuance signifi- cantly reduces thereafter. As an additional safety measure, during the transition phase no more than 10% of the Cosmos Hub Treasury can be deployed within a 21 day period.
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At the beginning of the transition phase 10,000,000 ATOM are issued per month. This issuance decreases at a declining rate until it reaches steady state issuance 36 months later. Steady state issuance will be 300,000 ATOM per month (a nod to the speed of light, 300,000 km per second).
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